nytraveler

To all those posters considering moving and asking about cost of living and salaraies in various places CNN money.com has just released a survey with significant new information.

Among the most striking points - the cost of living in NYC (Manhattan) is twice as high the national average. That is - to have a "$100,000 lifestyle" you need to earn $200,000 in NYC. Follwing closely behind is San Francisco and major areas in southern California.

And while salaries for comparable jobs are somewhat higher in these areas in compensation - they're not high enough to balance the cost of living.

What isn't taken into account is that these cities have large numbers of higher salaried jobs that are simply not found in many other areas. (The lox man at Zabars earns $80,000 plus - obviously a lot for a deli counterman. But whre else do you have a man that just cuts lox?)

GoTravel

Thanks nytraveler.

I think one thing not taken into account is how much the rest of us spend on cars, gas, insurance, etc.

Example, it costs me (I handle the car bills) around $1000 for gas, insurance and general maintainance for two cars a month. Throw in two $500 car payments and that is $2000 a month.

Throw in a $1500 a month mortgage payment and that would be $3500 a month I could put towards rent/mortgage in NYC without changing my lifestyle.

That is of course ditching the cars that I wouldn't need in Manhattan.

nytraveler

Yes - but if you wanted those cars in Manhattan the garage spaces would be $800/$900 per month.

Don;t know about insurance on what you have - here the cost for a subcompact with adult driver (perfect record) all safety gadgets and parked in a garage (street parked is more) is about $200 per month ($300/$500 insurance - which you really need in Manhattan).

GoTravel

I would not have a car living in Manhattan.

Personally, I absolutely positively hate to drive so it would be a big incentive for me.

My insurance on a late model car and truck runs about $250 per month.

Dayle

GoTravel,

Maybe you have said before, but where do you live? In Utah, I pay $550 a YEAR insurance on a Jeep Grand Cherokee. Of course, my income is diddly.

starrsville

My friend who moved to Manhattan was surprised at how big of a chunk city taxes took out of the paycheck. Parking was not a problem. She negotiated to keep her company car and for the company to pay for the parking. Sweet deal. Sweeter yet - falling in love with someone with a rent controlled 2br UWS

GoTravel

Dayle, I live in South Carolina. We have fairly expensive car insurance.

Both my husband and I have clean driving records and a $500 deductible on each car.

tuscanlifeedit

Think about the municipal workers: police, fire fighters, etc. The cost of living in Manhattan spreads to the surrounding areas. These workers aren't paid nearly enough to live in the area, and commute back and forth to work.

The city had proposed bridge and tunnel passes for the police (and maybe others) but this didn't happen.

I'm the proud MIL of a NY police officer, and they are really financially struggling.

Higher pay for NYC municipal workers!

Austin

Starrsville - there is a Mastercard commercial somewhere there in your post...."Falling in love with someone in NYC with a rent controlled apartment - priceless."

ggreen

LOL Austin!!

Amazing how many stories - real and fictional - revolve around apartment rentals in this city... Anyone remember Tama Janowitz' "Slaves of New York" (okay, dating myself here!). Or Rent... to name just two.

starrsville

Austin, the story is even sweeter on even more levels. I get to see the happy family - and NYC of course, in just a bit over a month!

starrsville

Has anyone used the zip car service in NYC (or SF)?

nytraveler

It's true that many city workers live outside the city - which is technically illegal - to find a decent neighborhood at a livable price. Also police, firefighters etc typically have a full-time second job in order to make ends meet.

I had an in-law who was a firefighter (lost on 9/11) and he did roofing in his spare time - many do similar jobs when they're on night or lobser shifts - just to make ends meet.

Also - that's why the city is constantly losing so many senior/more well educated teachers, police and firefighters to the outer suburbs - where the salaries are higher, commuting less and jobs frequently less onerous - but where educational requirements are often higher.

As an aside in New York you must have a BA to teach in the public schools and have only 5 years before you must get your masters - or you can;t continue teaching. (In better suburban schools they rarely hire anyone without a masters and quite a few teachers have doctorates.) I recently caught a piece on TV stating that in Texas you could teach - high school, no less - with only an AA degree. Can this possibly be correct?)

walkinaround

>>>>>
That is - to have a "$100,000 lifestyle" you need to earn $200,000 in NYC.
>>>>>

2 questions-

1. what is a $100,000 lifestyle? i think that most people realise that people earning modest incomes don't garage two cars in manhattan. i don't see the point of comparing like for like. you just adjust your lifestyle to where you live. everyone does.

2. why do new yorkers (transplants usually) get so giddy when they talk about how expensive everything is? it's almost like a badge of honour. they enjoy seeing non-NY'ers respond with shock and horror, uttering things like "that's a crazy place". serious question...i have noticed many new yorkers trying to "impress" people with the cost of the city and i just don't get it.

nytraveler

walkinaround -

Sorry if you don;t like the topic of the post. But in the last several months there have been at least 4 posts from people who were coming to NYC (for college or postgrad work or job internships or just interested in living here)who were asking about the cost of living.

There have also been posts from a lot of other people who are considering moving to other areas. The CNN survey covered many other places - and anyone coming here for info is welcome to look at the survey to get answers on the latest cost of living anaywhere listed.

Neopolitan

One friend who moved to Manhattan put pencil to paper, figuring out what he made selling his car and adding in the figures for insurance, maintenance, and gasoline that he wouldn't be spending. When he added it all up and divided it out by 52 for a weekly price, he decided he could take taxis in New York instead of the subway or busses for the money he was saving -- so he did. He lived in New York for a number of years and almost never used a subway or bus, but always took taxis and still came out money ahead from when he had a car in Ohio.

And I too question "what is a $100,000 lifestyle. We all know from here that people have different priorities. Some would spend a much bigger percentage on housing than others, some on entertainment and eating out, others on clothes. Which $100,000 lifestyle are they talking about?

BarryK

I was on the Verrazano Bridge recently for the first time in about a year. I can't believe the toll is now $9!

obxgirl

>>The CNN survey covered many other places - and anyone coming here for info is welcome to look at the survey to get answers on the latest cost of living anaywhere listed.<<

Would you be kind enough to publish a link to the survey? money.com doesn't do the trick.

Thanks.

seetheworld

This information would be great on a RELOCATION forum which should be place right before a FOOD forum, lol.

Thanks for posting this information for the many, many posters asking advice on this very topic.

mikemo

And you wonder why jobs are moving overseas?
M (SMdA, Gto.)